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willrogers
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@willrogers
Join Date: 2003
Post Count: 25
August 5, 2003 - 2:51 pm
Mortage Brokers are the go you can ask them to give you a few different options. They do most of the phone work and send over the forms to sign. Try them out its a lot easier
quote:
This is my very first time I have entered this sight, How exciting!! I am hoping someone can give me some advise on how to get a lending institution that works? I have purchashed two investment properties one on the Central Coast NSW and the other in WA. The problem is that I continue to have problems with my lender. They really slow me down. I have a pretty good asset bas and am by no means a risk yet any time I go to purchash another property it takes like 12 months before the deal is complete. Too slow. Can anyone help me???
willrogers
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@willrogers
Join Date: 2003
Post Count: 25
August 5, 2003 - 10:43 am
What are the star to post ratios?
Well done!
quote:
Well congratulations to me.
I made it to 100.
No not Properties but Posts. []
i think i get a new star for that.[]
I’d like to thank all you guy’s because it wouldn’t have been possible without you.
(i’ve still got a long way to go to 100 properties).
Regards westan
willrogers
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@willrogers
Join Date: 2003
Post Count: 25
August 5, 2003 - 10:40 am
Be careful and dont throw your money away on the first thing that comes along. It takes awhile to save 25k for any one. Look out for sharkkks
quote:
Hi, just wondrering i have saved $25,000 and just finshed my schooling, work part time earning $300 a week, what can i do and will i be able to borrow any maoney
willrogers
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@willrogers
Join Date: 2003
Post Count: 25
August 5, 2003 - 10:36 am
Most people that I have head talking about Bisbane have nothing bad too say about it. I think its a matter of looking at all options
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[8D] I’ve had several companys talking up the returns of Brisbane and outer areas. I would like to know other investors view about buying Queensland propertys and if they have had success or not.
Thanks in advance
Pete
willrogers
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@willrogers
Join Date: 2003
Post Count: 25
August 5, 2003 - 10:33 am
Cant wait to see it good on you!
willrogers
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@willrogers
Join Date: 2003
Post Count: 25
August 5, 2003 - 10:31 am
The way I understand it is that if you have IO your payments are lower so it gives you more ready cash to use to reinvest or upgrade????I think
quote:
Which is Better:
Interest Only or P&I Loans for Investment properties.
willrogers
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@willrogers
Join Date: 2003
Post Count: 25
August 5, 2003 - 10:27 am
You should talk to Tas investor he seems to know what he is talking about hes on a few winners
quote:
Has anyone purchased a positive cash flow property in Tasmania???
If this was your first time where would you look to purchase + cash flow property?
willrogers
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@willrogers
Join Date: 2003
Post Count: 25
August 5, 2003 - 10:19 am
Hello Im originally from Adelaide but now in the NT. What ive seen in Adelaide is that the prices have really gone up in the last 5 years. Prior to that you could pick up a house very cheap in a good area now it seems that it is catching up with the rest of the country. But you can still get bargains in places like Ridleton and the western friges of Adelaide . The suurbs over hat side have been slow to take off and there isnt any reason that you couldnt pick up a cheap cottage 2 km from the CBD.
quote:
In two previous posts I suggested that Wagga and Adelaide might be options. I got no feedback at all on these options.It seems that everybody is in Qld.
Does anybody have any other suggestions?
willrogers
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@willrogers
Join Date: 2003
Post Count: 25
August 4, 2003 - 11:13 am
I was lucky and picked up a commercial property in Hobart CBD last year for the same money it would cost to buy a flat in Sydney. Its been making a positive cash flow since day 1. Try your luck with commercial
quote:
Has anyone purchased a positive cash flow property in Tasmania???
If this was your first time where would you look to purchase + cash flow property?
willrogers
Member
@willrogers
Join Date: 2003
Post Count: 25
July 10, 2003 - 4:29 pm
I think its good that some one of your age is getting in and having a go…I cant remember what I was doing at that age..but I wasnt thinking about investing….pitty! Just take it steady and as some one else said check out the risks. If its dangerous dont go there.
Will
quote:
Hi all,
I am 22 and a first time poster – trying to learn as much as i can before starting to invest in property.
I have come across a block of flats with 3 for sale out of a block of 4. On the surface they all seem as though they would be cash flow positive, they all are tenanted, and in a decent location with low body corporate.
I was just wondering if anyone had any thoughts as to why 3 would be for sale at once. (They seem to be different sellers as they came on the market at different times and through different agents.)
I am new to this but the only reason i could think of is that there must be high costs somewhere aside to the body corporate. Can anyone suggest any other reasons or what other costs to look for?
Thanks in advance for any help…![]
Cheers
Matt
willrogers
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@willrogers
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Post Count: 25
July 10, 2003 - 4:25 pm
If more high riseare starting to go up then it possible that they may drag your investment down rather than yours helping the price of theirs up. If you think you can get out and find a more + cash investment why hang onto it. Sell it before the others go up and create a glut. (just an opinion) Will
quote:
Hi again all. Just wanted to get an opinion (again) on one of our I/P’s. It’s a first floor one b/r unit in a high rise at Broadbeach (I know I know, don’t buy high rise) that we bought brand new approx 4 yrs ago. It was our first venture into the world of I/P’s and I didn’t know then what I know now. It has always been rented out, (returns $250 p/w, may be able to get $270) but the problem is that it is only just starting to reach the price that we paid for it (paid $220000 incl furniture). It is neg geared and still has good depreciation left and doesn’t affect our budget too much as it really reduces my wifes tax, and we have a mixture of I/P’s that are neg, neutral & positive. As mentioned, it is starting to “come into it’s own” and with the Convention Centre happening soon, I’m hoping things should be bright at Broadbeach for the future. Just wanted to see if the majority would sell it or hang to it.
Thanx again
Marty
willrogers
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@willrogers
Join Date: 2003
Post Count: 25
July 10, 2003 - 4:16 pm
Personally I would see it as a bonus, it will give you $250pw rental return. It may be a bit more work to get some one in but you may come across a tennant that dosent want to move. I suppose that it depends on the layout if you want to get 2 tennants renting out the different parts of the property. If it feels good go for it.
willrogers
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@willrogers
Join Date: 2003
Post Count: 25
July 10, 2003 - 4:07 pm
Im sure the rents will cover and give a
+ return. I think the house market is probally looking a bit sad. The Australian has been promoting it for the last 18 months. Thats why I thougt there maybe a bit happening in the smaller end of the market. Im not sure what happens in Brisvegus whats the ratio between rent and purchase price there?
Will
“Live your life so you wouldnt be afraid to sell your parrot to the town gossip”
quote:
Hmm I thought Tassie market was dead. Now you got me thinking. But what are rents like ? I don’t think you can beat Brisbane.
willrogers
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@willrogers
Join Date: 2003
Post Count: 25
July 10, 2003 - 3:57 pm
But is worth while putting a bit more thought into.
Will
“Live your life so you wouldnt be afraid to sell your parrot to the town gossip”
quote:
How about renting it to your dog or cat ? or Gold Fish ?
Better still give it to your dog or cat and have them leave it to you in their will. In the mean time you can rent it from them. You can be their trustee.
Some how I doubt the tax dept would go for it.
willrogers
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@willrogers
Join Date: 2003
Post Count: 25
July 10, 2003 - 3:45 pm
Thanks Tas and Sooshie,
Hey I was wondering, seeing that everyone is chasing the residential properety, probally as large a house as they can get. What do you think would be happening with say the 1-2 bedroom appartment or flat market? I bet its possible to pick up cheapies in this part of the market . Maybe there is the possibility of the same thing happening in and around Hobart as happens in most capital cities ….people stat chasing the inner city appartments. …..Just a thought Will
quote:
Good tip Sooshie,
I pick up my copy in Sydney at either Wynyard Station or Town Hall Station (there are other newsagents that get it too) around 11am on Fridays (when it arrives), or they will save a copy for you on request. Its about $1.25 – $1.50 depending on where you go.
Tas
willrogers
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@willrogers
Join Date: 2003
Post Count: 25
July 10, 2003 - 11:20 am
Thats great to hear! I dont have any residential property down there but have a Commercial property directly across form the Mall in the CBD. It takes up 2/3 of the stree and is three stories. We picked it up for 520k its been valued in at over a mil. Thinking of ways to develop it.Commercial may be the deal. Will
quote:
Hey Willrogers
All Tassie residential RE prices (not just Hobart are booming) – that’s definite. 3 properties I purchased exactly 1 year ago have recently been appraised higher by between 30% – 50%, and a property I bought 2 years ago is worth almost double.
There is huge demand by mainland investors – and ads in the RE guide you may have seen now often say “attention mainland investors!!” – but agents are scratching for listings. Literally whatever they have is going within a couple of weeks at most.
Some, not all, people are buying unseen over the internet – and I have seen an open home recieve 7 offers on the same day.
This makes it hard for me (I am based in Sydney) so has effectively put my investing on hold as I know whatever I find from here and fly down to look at will be sold at top dollar. I think you would need to live there in order to find the nuggets!
I am not active in the commercial market, but I believe that it is just starting to move now. There are a number of commercial opportunities in the state, but for various reasons they are not being pursued as actively by investors. Keep in mind that the Tassie economy is a lot slower than most other places. The only big news recently is the new tourist car ferry from Sydney to Hobart just announced (starts this summer).
I wonder what Adelaide commercial property has done over the last few years, as this seems similar to the ‘re-rating’ of Adelaide prices over this period. Perhaps Hobart will follow a similar trend?
willrogers
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@willrogers
Join Date: 2003
Post Count: 25
July 9, 2003 - 12:38 pm
Wow nice family mmmm not sure about the tax deductions on genorosity
quote:
What a great find this website is!! I’m hoping somebody may be able to help me.
My wife and I do not have any equity or a deposit at this stage. My wifes parents have $100,000 to invest in a property for themselves. As they are to old to qualify for a loan, they are happy to “give” us ythe money as a deposit, we take out the remainder as a loan (80-100K), the mortgage is in their name and they move into the property (rent free). we are happy to pay off the $80K – its a great opportunity. If they are in the property rent free however, we lose tax advantages (or do we??). Is there a way to structure the deal so that the $400 or so we will be paying off the mortgage every f/n is tax deductible? Any advice most appreciated.
Thanks
Paul
willrogers
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@willrogers
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Post Count: 25
July 8, 2003 - 4:58 pm
Thanks hwd Ill keep you posted on how things are going. Ideally it would be good to get things working for each other. Cheers Will
willrogers
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@willrogers
Join Date: 2003
Post Count: 25
July 8, 2003 - 4:55 pm
Keesha Im only new in here but I think positive cash flow properties are investment properties that return more a week in rent than you have to pay for them. If Im on the right track then I suggest look outside of Sydney. In Alice Springs it is an easy process with high rental prices and reasonable purchase prices for buying homes its almost a guarantee. (If Im not on the right track please tell me) Thanks Will
willrogers
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@willrogers
Join Date: 2003
Post Count: 25
July 8, 2003 - 4:47 pm
Hello Steve, things are definately happening on this site, I ve just recently found out that these sites are around and that there are people facing the same issues that I am. I had a look at your wealth tips site and realise that Ive got a lot to learn to become a player in this game. Its great and thanks for putting in the effort to pass on your information and making it accessible to newbies like me. Its already made a big difference to my level of understanding. But, I really dont believe that 99% of people are that bad, some times we are just moving too fast to take the time to get to know people. Thanks again